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GBP/USD

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Re: GBPUSD

Kauri said:
the only support I see is possibly oppie defence around 180 area...
the Uk chancellor is a darling to the bears...

Cheers
........Kauri
Click to expand...

180 defended again... by a Swiss mob.. I thunk..
Cheers
..........Kauri
 

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Re: GBPUSD

British Pound is plunging against all the worlds currencies as confidence suddenly descends.
Rate in London is now £1.80 to the US$ - down about 12% in the last 4 months - and £2.108 to the Aussie. Au$ slips slightly at A$1.17 to the Greenback - down about 11% in recent months.
 
Re: GBPUSD

noirua said:
British Pound is plunging against all the worlds currencies as confidence suddenly descends.
Rate in London is now $1.80 to the US$ and £2.108 to the Aussie.
Click to expand...


In an interview that appeared in the Saturday UK Guardian, UK Chancellor Darling is quoted as saying that the UK is facing "arguably the worst" economic downturn in 60 years which will be "more profound and long- lasting" than people had expected. The Guardian article stated that Darling admitted that he had no idea how serious the credit crunch would become.
Later in the weekend Darling took the airways to "clarify" his comments saying that he was referring to global economic conditions rather than those in Britain.
He has since appeared on TV saying he meant the world.. not UK specifically, and theFT has run a piece saying he got it wrong.. but it hasn't raised a bounce... yet?? US LaboUr Day hols too I thunk..and the Cannucks are off as well?? so thin whippy trading tonight??

Cheers
..........Kauri
Cheers
...........Kauri
 
Re: GBPUSD

Kauri said:
Will the FT piece about darling getting it wrong save the cable, because nothing can save his job...
Cheers
...........Kauri
Click to expand...
and moving along nicely thanks to oppies and a raft of stops getting targetted..
Cheers
..........Kauri
 

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Re: GBPUSD

The OECD predicts that the UK economy will shrink by 0.3% this quarter, and by 0.4% in Q4 (BBC website). This would constitute a UK recession.
In the middle of last month, a major US bank wrote that "it would not be a surprise" to see GBP/USD fall to 1.5500, its average level between 1993 and
2002, in the next 12-18 months (1.3682 was the June 2001 low).

Cheers
.........Kauri
 

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Re: GBPUSD

lets see if the short hits my target, will be a nice R:R if it does
 

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Re: GBPUSD

go spend up Wayne and help put the sparks back into Debs...

UK retailer Debenhams says it has not breached banking covenants (reported by Reuters).
Rumoured "problems" at Britain"s second-largest department-store company were flagged as a factor in cable"s fall from 1.7665.
Cheers
............Kauri
 
Re: GBPUSD

Cable is almost 8 big figures lower since we last checked it out. .
 

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Re: GBPUSD

I can't get over Cable.

I thought it may have been forming a temporary bottom with that last formation, not the case though.

Over seventy big figures lower in just over a year.
Amazing.
 

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Re: GBPUSD

Bent, did you read Jimmy Rogers comments on it yesterday? Ditch it he said!
 
Re: GBPUSD

with the mess the british banks are in, im not surprised its headed south; especially combined with some general USD strength.
 
Re: GBPUSD

Jobless claims are out tonight in the UK which may give it a further nudge in the same direction.
 
Re: GBPUSD

GBPUSD

Yesterday Plunge to its 23-year bottom at 1.3620, following smash below 1.4350, 31 Dec 2008 bottom, support. Rebound, shy of 1.4048, and warn of further weak point towards 1.3519.

Resistance: 1.3992, 1.4030, 1.4048, and 1.4068

Support : 1.3840, 1.3775, 1.3715, and 1.3690
 
Re: GBPUSD

Well I have another bearish pennant example that is approaching its moment of validation.The support and resistance lines are converging to an apex and the mast is significant in stature.

Note that on odd occasions these continuation patterns can and do reverse.
 

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